Please explain why the answer for 2022 and 2023 are not -$761,201 and -$98,799. Isn't gross profit equal to revenue minutes cost incurred during the year?

In 2021, the Westgate Construction Company entered into a contract to construct a road for Santa Clara County for $10,000,000. The road was completed in 2023. Information related to the contract is as follows: 2021 Cost incurred during the year Estimated costs to complete as of year-end Billings during the year Cash collections during the year $2,640,000 6,160,000 2,080,000 1,840,000 2022 $2,300,000 2,660,000 2,860,000 2,800,000 2023 $2,926,000 5,060,000 5,360,000 Westgate recognizes revenue over time according to percentage of completion. 5. Calculate the amount of revenue and gross profit (loss) to be recognized in each of the three years assuming the following costs incurred and costs to complete information. (Do not round intermediate calculations and round your final answers to the nearest whole dollar amount. Loss amounts should be indicated with a minus sign.) Costs incurred during the year Estimated costs to complete as of year-end 2021 $2,640,000 6,160,000 2022 $3,840,000 4,180,000 2023 $4,020,000 @ Answer is complete but not entirely correct. 2023 $ 2022 3,078,799 2021 3,000,000 $ 360,000 $ Revenue Gross profit (loss) $ 3,921,201 (98,799) X $ (761,201) $